Saudi Arabia clarifies property transaction tax for foreign buyers

Saudi Arabia clarifies property transaction tax for foreign buyers

By Saudigazette • 108 days ago

Summary:

The General Real Estate Authority (REGA) announced that a 5% real estate transaction tax applies to all property transfers in Saudi Arabia, with an additional 2% fee for non-Saudi transactions in specific zones of Riyadh, Jeddah, Makkah, and Madinah. REGA spokesperson Taisir Al-Mufarrij explained that regulations for non-Saudi ownership reflect each location's unique characteristics and development goals. Makkah and Madinah have restrictions limiting ownership to Muslims, while Riyadh and Jeddah's regulations aim to foster urban development and sustainability in the real estate market.

Source: Saudigazette

Author: Saudi Gazette

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